Mortgage & Renting/Moving Glossary
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Home selling is full of it's own phrases and terminology, much of which
will be unfamiliar to all but the seasoned home mover.
Our mortgage & moving glossary is here to guide your through some
the language you are likely to encounter when moving home. We don't claim
to give definitive explanations of any of the phrases here, but we do
hope that it will help a little.
Abstract of Title
Accellerated Possession
Acre
Advance
Adverse Credit
Annual Percentage Rate
Appointed representative
APR
Arrangement Fee
Arrears
Assent
Assign
ASU Insurance
Bad Credit
Bankers Draft
BBA British Bankers Association.
Bonuses
BSA Building Societies Association.
Building Regulation Approval
Buildings and contents insurance
Buildings insurance
Capital and interest
Capital Gains Tax
Capped rate
Cashback
CCJ
CGT
Chain
CML
Completion date
Consumer Credit Act
Contents insurance
Contracts
Conveyancing
Cooling Off Period
Council of Mortgage Lenders.
County Court Judgement
Credit File
Credit Reference Agency
Credit Scoring
Credit Search
Critical Illness
Date of entry
Debt Consolidation
Decreasing term assurance
Defaults
Deposit
Disbursements
Discount term
Discounted rate
Early redemption charges
Endowment
Equity
Equity release
Estate agency fees
Exchange of contracts
Extra cover or accidental cover
Fixed Rate Loans
Fixtures
Flexible mortgage
FPC Financial planning certificate
Freehold
Freeholder
Gazump
Gazunder
Ground rent
Guaranteed death benefit
High Risk
HM Land Registry
Home Buyers Report
Homebuyers report
IFAs Independent Financial Advisers.
Income multipliers or multiples
Income protection insurance
Income references
Interest only
Interest Rates
IPT Insurance premium tax.
Leasehold
Leaseholder
Lender
Level term assurance
Licensed conveyancer
Life Insurance
Loan to Value
Loyalty bonus
LTV
MIG
Mortgage
Mortgage Indemnity Guarantee
Mortgagee
Mortgagor
MRP Mortgage Repayment Protection
Multiple agency
Mutuals
Negative equity
New for old
No-claims bonus
Non-status
On risk
Payment Protection
PEP
Personal Loans
Personal pension
PHI Permanent health insurance.
Policy excess
Policy schedule
Possession
Private medical insurance
Property Misdescriptions Act
Purchaser
Rebuilding cost
Remittance fee
Remortgage
Removal expenses
Repayment
Replacement value
Sealing fee
Searches
Second Charge
Secured Loans
Self-certified
Settlement
Sole agent
Solicitor
Stamp duty
Structural survey
Sum assured
SVR Standard variable rate.
Term
Third party buildings insurance
Tie-in period
Title deeds
Transfer deed
Unit trust
Unit-linked endowment
Unitised with-profits endowment
Unsecured Loan
Valuation
Variable rate
Vendor
With-profits endowment
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